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FBR revives circle system to identify potential taxpayers

ISLAMABAD: Federal Board of Revenue (FBR) has revived income tax circle system to tap potential taxpayers and enhance facilitation for existing taxpayers at district...

Condition of higher capital gain tax rate relaxed

ISLAMABAD: The government has announced that new or higher rate of capital gain tax will not be applicable on securities purchased up to June...

Turnover tax on electronic trade reduced to 0.5pc

ISLAMABAD: The turnover income tax has been reduced to 0.5 percent from 1.25 percent for entities engaged in e-commerce. Finance Minister Senator Mohammad Ishaq Dar...

Income tax on undistributed profit reduced to 7.5pc

ISLAMABAD: The proposed income tax rate of 10 percent on undistributed profit by listed companies has been reduced to 7.5 percent for the tax...

Anomaly identified in proposed capital gain tax on disposal of securities

KARACHI: Tax experts have identified anomaly in proposed capital gain tax regime on disposal of securities in equity market. The Finance Bill 2017 proposed capital...

Informer not to get reward on lack of tax evidence

KARACHI: The tax official said that the Federal Board of Revenue (FBR) has introduced reward for whistleblower in the last year but in the...

FBR creating gulf between government and private sector: FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday said that Federal Board of Revenue (FBR) has deliberately proposed such amendments...

Federal minister urges provinces to reduces sales tax on internet services

ISLAMABAD: Minister of state for IT & Telecom Mrs Anusha Rehman has urged provincial governments to reduce sales tax on internet services so the...

Tax practitioners stun over amnesty to political parties, harsh measures for...

KARACHI: Tax fraternity is surprised over government policy for giving amnesty to political parties and tightening conditions for non-profit organizations. In the post budget conference...

Equipment import for mobile phone manufacturing granted duty exemption

KARACHI: Federal Board of Revenue (FBR) has allowed zero-rate customs duty on import of equipment for manufacturing of mobile phones in the country. According to...

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